Egypt Bourse gains $1,5bn as Emaar Misr starts trading

Egypt Bourse gains $1,5bn as Emaar Misr starts trading

The market capitalisation has recorded 496,131 billion pounds during the closing session of Sunday.

Shares in Emaar Misr , the Egyptian arm of UAE real estate developer Emaar Properties, climbed 3.94 Egyptian pounds (US$0.51) on its market debut at early trade. The developer set the initial public offering (IPO) price at 3.80 Egyptian pounds, with its second tranche oversubscribed by about 36 times.

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